Welcome to the new Independent website. We hope you enjoy it and we value your feedback. Please contact us here.

Business News

Troubled Thomas Cook in a shake-up at top

A boardroom clearout was unveiled at Thomas Cook yesterday, the next stage of the embattled travel group's battle to save itself from doom.

The shake-up sees four directors agree to step down, including Bo Lerenius, the former chief executive of Associated British Ports, who resigned the chairmanship of support services firm Mouchel last October in the wake of an accounting blunder. Also in the ejector seat are the City grandee Sir Peter Middleton, previously of Lloyd's of London and Salomon Brothers, David Allvey and Roger Burnell.

Headhunters have been appointed to find replacement directors. City analysts note that they might seek younger directors – the present average age of the board is 62.